What AR Should Know about the UCC Article 9 Amendments (2010)

The Uniform Commercial Code (UCC) has been described as one of the most important developments in American law. The code contains legal definitions and guidelines that can be helpful tools for AR professionals. This is the second in a series of articles about the code. Why Article 9 is Important to Trade Creditors Most trade creditors are familiar with the Uniform Commercial Code's article 9 that deals with secured transactions. Article 9 describes how a lender can become a secured creditor…